Challenger Energy Group (CEG), the Isle of Man-headquartered oil and gas company focused on the Caribbean and Americas, has been awarded the last remaining available shallow water exploration block located off Uruguay. Other offshore exploration licences are held by energy majors, including Shell, Apache and YPF, the Argentinian national oil company.
After Challenger Energy submitted a bid for the AREA OFF-3 block offshore Uruguay as part of the Open Uruguay Round, the first instance of 2023, the Administración Nacional de Combustibles Alcohol y Pórtland (ANCAP), the Uruguayan national regulatory agency, published on its website at the start of June 2023 that there were no further available offshore blocks in Uruguay.
With no other offers for AREA OFF-3 referenced in ANCAP’s communication, the Isle of Man-based firm was advised that the formal award of the block was expected to take three to four weeks, expanding Challenger’s licence holding in Uruguay to two blocks, in the offshore Punta del Este and Pelotas sedimentary basins – AREA OFF-1 and AREA OFF-3 – positing the firm’s acreage on either side of Shell’s AREA OFF-2 block.
Challenger Energy Group plc (LON:CEG) is a Caribbean and Atlantic margin focused oil and gas company, with a range of petroleum assets located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of The Bahamas and Uruguay.
